Royal Bank of Canada Reaffirms Sector Performer Rating for Associated British Foods (ABF)

Associated British Foods (LON:ABF)‘s stock had its “sector performer” rating reiterated by equities research analysts at Royal Bank of Canada in a research report issued to clients and investors on Monday. They currently have a GBX 3,100 ($41.45) target price on the stock. Royal Bank of Canada’s price objective indicates a potential upside of 7.49% from the stock’s current price.

A number of other research analysts have also commented on the company. Deutsche Bank reiterated a “buy” rating and set a GBX 3,500 ($46.80) price target on shares of Associated British Foods in a report on Tuesday, January 2nd. Liberum Capital reiterated a “buy” rating and set a GBX 3,500 ($46.80) price target on shares of Associated British Foods in a report on Tuesday, December 19th. Credit Suisse Group reiterated an “outperform” rating and set a GBX 3,700 ($49.47) price target on shares of Associated British Foods in a report on Thursday, December 7th. JPMorgan Chase & Co. restated an “overweight” rating and issued a GBX 3,600 ($48.13) target price on shares of Associated British Foods in a research note on Tuesday, December 5th. Finally, Morgan Stanley lowered Associated British Foods to an “equal weight” rating and upped their target price for the company from GBX 2,800 ($37.44) to GBX 3,100 ($41.45) in a research note on Tuesday, November 28th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and fourteen have issued a buy rating to the company. Associated British Foods presently has an average rating of “Buy” and an average target price of GBX 3,395.90 ($45.41).

Associated British Foods (ABF) opened at GBX 2,884 ($38.56) on Monday. Associated British Foods has a 1-year low of GBX 2,335 ($31.22) and a 1-year high of GBX 3,387 ($45.29). The company has a market capitalization of $22,780.00 and a P/E ratio of 1,897.37.

Associated British Foods (LON:ABF) last issued its quarterly earnings results on Tuesday, November 7th. The company reported GBX 127.10 ($1.70) EPS for the quarter, topping analysts’ consensus estimates of GBX 125.90 ($1.68) by GBX 1.20 ($0.02). Associated British Foods had a return on equity of 12.97% and a net margin of 7.01%. The company had revenue of GBX 1,535.70 billion during the quarter.

In other Associated British Foods news, insider John Bason sold 21,716 shares of the stock in a transaction on Monday, November 27th. The stock was sold at an average price of GBX 3,043 ($40.69), for a total transaction of £660,817.88 ($883,564.49).

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About Associated British Foods

Associated British Foods plc is an international food, ingredients and retail company. The Company’s segments include grocery, sugar, agriculture, ingredients and retail. Its geographical segments include the United Kingdom, Europe and Africa, the Americas and Asia Pacific. The grocery segment manufactures grocery products, including hot beverages, sugar and sweeteners, vegetable oils, bread and baked goods, cereals, ethnic foods, herbs and spices, and meat products, which are sold to retail, wholesale and foodservice businesses.

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